Credit Services Venture Formed: Computer Sciences Corp.,...
From Times Staff and Wire Reports
Credit Services Venture Formed: Computer Sciences Corp., a Los Angeles-based computer services firm, and Atlanta-based Equifax Inc. have formed a general partnership that will take over Computer Sciences’ credit services operations. Computer Sciences will have a 97.2% stake in the new company, called CSC Enterprises, and will serve as the managing general partner. Equifax gets a 2.8% stake in exchange for a $10-million cash payment to CSC. CSC expects to report a $2.1-million after-tax gain as a result of the deal. Equifax also gets the right to buy CSC Enterprises at any point during the next 23 years for not less than $365 million. The price could be adjusted upward.
